Is it better to give than to receive? Once you reach a certain
level of success in business, is it your responsibility to give
back to other business owners? We spoke with several successful
women entrepreneurs about giving back to other women business
owners, through mentoring, being on their corporate boards and
investing in their companies. Here is what they had to say:

"Dina cold-called me in 1999 because she had seen me in the
press and had heard about me from local venture capitalists,"
says Lucinda Holt, 39, president and CEO of Destiny, a
Conshohocken, Pennsylvania, technology consulting firm with more
than $16 million in revenue last year. She's talking about Dina
Rosenberg, 39, founder of B2B Diversity, a Philadelphia company
that connects minority and women-owned businesses with corporate
buyers.

"I was intrigued by both her concept and her moxie,"
says Holt. "We had breakfast and our relationship grew from
there." Holt liked the focus of Rosenberg's business and
also liked her as a businesswoman: "[She's] hungry,
focused and open to outside ideas." Today, Holt is Dina's
mentor and also on her company's board of directors.

How does Holt mentor Rosenberg? "First, I give her an
experienced sounding board she can trust. She knows I'm 100
percent on her side. Second, I use my experience to come up with
solutions to issues from hiring employees to structuring
partnerships. Third, I can introduce her to people."

"Realize that
there's a time and emotional commitment, but the rewards far
outweigh any costs."

For author Shirley Peddy, mentoring is always reciprocal.
"We get back as much as we give," says the author of The
Art of Mentoring: Lead, Follow, and Get Out of the Way (Bullion
Books). "None of us has made it alone. Each of us has had the
help of others. The only way to give back is to help someone else
succeed."

As a mentor, Peddy says, encourage these four primary qualities
in your mentee:

Wisdom: Knowledge plus
perspective. As an insider, you can share your experience and your
perspective on how the "system" works.

Judgment: You help the
mentee make better choices by showing her the broader implications
of her decisions.

Resilience: One of the most
important qualities of successful people, it involves attitude plus
perspective. As a mentor, you help your mentee learn from her
mistakes, and provide inspiration by showing her how you've
overcome obstacles and setbacks in your own business.

Independence: Finally, tell
the mentee when she no longer needs your help.

Holt's opinions are in line with Peddy's: "Just do
it. Realize that there's a time and emotional commitment, but
the rewards far outweigh any costs." Holt says helping another
entrepreneur allows her to extend her impact beyond her own
company.

In business, time is money, and Cindy Pharr, president of C.
Pharr & Co., a marketing and public relations business in
Addison, Texas, is looking to give both to other female
entrepreneurs. She and several other successful Texas businesswomen
are raising a $10 million fund to invest in women-owned start-ups
in the state. "We [are] determined to be opportunistic rather
than be depressed about the tough reality of women trying to find
different types of growth capital," explains Pharr, 53.

What do Pharr and her partners gain from her efforts?
"I'm making new contacts that will help my consulting
business," explains Pharr. "I thought I knew just about
everybody in Dallas. But through the fund, I've already met
some very cool women, men and companies who are enriching my
business and personal life." Clearly, giving is as rewarding
as getting. So if you've got it to give, spread it around.